Application deadlines for the government’s three coronavirus business interruption loan schemes have been extended to 31 January 2021.
This extension gives businesses an additional two months to apply for funding, with the previous deadline being 30 November 2020.
Which schemes does this apply to?
The following three loan schemes now have an application deadline of 31 January 2021:
- The Bounce Back Loan Scheme;
- Coronavirus Business Interruption Loan Scheme; and
- Coronavirus Large Business Interruption Loan Scheme.
The application deadline for the Future Fund has also been extended until 31 January 2021.
Increasing Bounce Back Loans
All those businesses that borrowed less than the maximum amount available to them through the Bounce Back Loan will be eligible to ‘top-up’ their existing loan.
- Businesses will be able to access this ‘top-up’ only once; and
- The top-up will be available from week commencing 9 November 2020.